A £2 Betting stakes maximum has been called for by some members of parliament in the United Kingdom. These members are concerned that some internet casinos are not taking the new £2 betting stakes max seriously. They are also claiming that they are taking advantage of vulnerable gamblers in the UK.
There is also a call for the government to provide the necessary protection to gamblers that are considered at risk of becoming gambling addicts. Members of parliament did not fail to highlight the fact that problem gambling is on the rise and an issue of public health. According to a Gambling Related Harm, All-Party Parliamentary Group stated that there is no need for slot machine games online to offer betting stakes that are over £2.
A few months ago, the government implemented the new betting stakes for fixed-odds betting terminals (FOBTs). This law meant that the betting stakes were decreased from £100 to £2. However, this rule only applied to retail gambling facilities. Internet casinos have continued to operate as if the rules did not change.
£2 Betting Stakes Maximum Is Not the Only Law That Internet Casinos Will Face
The All-party are not only lobbying for the imposition of the betting stakes max law. The party believes that credit cards should not be used at internet gambling sites. This intervention would prevent at-risk gamblers from accumulating large sums of debt.
Lain Duncan Smith, the Vice-chairman of the All-party, told the media that gambling addiction is becoming a health crisis. He insisted that more powers should be given to the UK Gambling Commission (UKGC) because casino operators on the internet, have for a long time preyed on vulnerable gamblers. He further said that this practice needs to stop as soon as possible.
Mr Smith encouraged the UKGC to look at the issue of the £2 betting stakes maximum, as well as the banning of credit cards, are internet casinos in-depth. In the last few years, the UK has seen a lot of people falling prey to gambling addiction. There are 430 000 people with a gambling addiction in the UK currently.